Posted Monday, June 27, 2011 5:44 PM | Contributed by rollergator
Plans for an thrill-ride park at the north end of Orlando's International Drive have been abandoned. The developer, I-Drive Investors LLC, has dropped its bid to put a group of roller coasters and other rides on 78 acres between Festival Bay shopping mall and the Tangelo Park neighborhood, citing the cost and difficulty of pursuing an appeal.
Read more from The Orlando Sentinel.
Bummer. It seemed like a great idea for an amusement park.
If you're into roller coasters, sure. As a business idea, it was a train wreck.
Did anyone watching here on CoasterBuzz not see this coming about six months ago, about the time Fun Spot bought their expansion property?
--Dave Althoff, Jr.
/X\ _ *** Respect rides. They do not respect you. ***
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I was reading the writing on the wall as soon as I found out that Baker Leisure Group "and friends" were behind this (the digging was rather entertaining, with the stuff I found). I had every confidence the same guy who failed to turn around FSMP would fail miserably at this venture if his group of investors could even get it off the ground.
As for "other plans" for the land...anything built there is going to be a real rocky investment. Festival Bay has got to be on life support, and the surrounding area isn't exactly the greatest. Something like OTP would be the only thing that I could see bringing any meaningful increase in traffic and subsequent business to the area. Housing is definitely a no-go. Off of I-Drive south, there is a set of town homes that have sat vacant and unfinished for almost a year. The original asking price was about $400,000, and has since dropped to between $250-300,000 with some extra furnishings/options thrown in. I give about another year before they're under $150,000 or rental units.
I actually thought at first that this was an old article. Surprised it took this long.
I for one am shocked.
My author website: mgrantroberts.com
even though i knew it wouldn't work out long term and only would of survived a few years there were some cool rides planned for this park. I wanted to go and say i was one of the people who went before it closed but i guess not haha :) No Shock Here
All I could think of the whole time was that it would be located on the already-a-nightmare-anyway I Drive. I was already dreading my visit. Now at least I dont have to.
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